See how we can help

Get started online

Mortgages for young people

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Feb 21, 2023

Mortgages for young people

Getting a mortgage is a significant achievement for young buyers, regardless of their financial status.

Mortgages for young professionals are not easy; as a mortgage broker, we have mortgage providers lending first-time buyer mortgages. Whether you are looking for a joint mortgage or a mortgage loan for your own home, we are here to help.

Use our online mortgage calculator as a guide for your monthly repayments now

We are expert mortgage brokers

We have access to over 200 lenders in the UK to get you the best rates

Get your Quote

Getting a mortgage if you are a young person

Many young people call us to enquire about how to find the best mortgage deal, and we introduce them to mortgage lenders to suit their needs.

Our mortgage professionals have helped hundreds of young people secure their first homes. Experts agree that you have one huge advantage when getting a mortgage.

We will compare mortgages for you, discuss monthly mortgage payments and find a mortgage lender. We will take the stress out of a mortgage loan for you.


Get started online

Is there a mortgage available for young people?

Yes, mortgages for young professionals looking for residential property are available.

Finding a great deal early in the mortgage search requires perseverance and advice from an expert mortgage advisor.

You’ll need to choose the right lender to meet your needs and ensure that your monthly repayments and mortgage terms match your financial situation before you jump to the property ladder.

Am I too young to get a mortgage?

Young buyers may face age limits.

Many lenders require residential mortgage applicants to be 18 years old. While some lenders will lend to buyers, many others require that you be at least 21 years old.

You might be wondering if your age is too high to qualify for the mortgage you want. Market research and asking about the age limits of different lenders can help you understand the current market.

Call today to speak with an expert mortgage advisor. They can help you save time, money, and potentially damage to your credit score by directing you to the right lenders for you.

If you are a first-time buyer, it can be daunting looking for a mortgage, we are here to help. We will find you a mortgage provider whose lending criteria you match.


Get started online

How to get a mortgage in your twenties

Buyers who are interested in a mortgage at an early age have many options. A first-time buyer mortgage is the most popular.

You need to compare the offers of different lenders to get the most out of your financial situation.

To negotiate a great mortgage deal, it is important to understand the long-term implications and how much you can afford over time.

We work with brokers that help young people access top providers daily. There is no substitute for a broker’s experience in the UK when it comes to negotiating the housing market, finding the best deals and planning your repayments.

Mortgage schemes for young people

Many mortgage companies will offer special mortgage programs for young people.

  • Lloyd’s Mortgage – No Deposit Required. A family member can instead deposit 10% of the home’s purchase price into a 3-year fixed term savings account.
  • Yorkshire Building Society Offset plus Deal This allows a helper offset their savings against the young adult’s mortgage balance to secure higher interest rates.
  • Barclays has the Family Springboard mortgage. This scheme allows you to borrow the entire purchase price of your home, as your helper will provide 10% security for five-years.
  • Nationwide’s family deposit mortgage – A helper can borrow against their home and give that money to the young relative as a mortgage deposit.

If you are a first-time buyer or someone with limited financial resources, a sole borrower mortgage is another way to get on the property ladder.

This is a great way to help your children get on the property ladder and increase their financial stability.

These are just some of the many mortgage options available for young people.

Please call today for a complete overview of the various schemes that may suit your needs. Or enquire. We’ll connect to an expert mortgage advisor.


Get started online

Mortgages for young families

A mortgage is a great way to secure your children’s financial future. Some lenders might consider your preschool or childcare costs. This could lead to your mortgage application being declined or a smaller loan amount.

There are many ways to increase your chances of getting a great mortgage deal.

It’s best to not rely on a bank you have been with for a long time. Shop around and compare all available offers.

An expert mortgage advisor can help determine which deals are best for your family. An advisor will carefully review your financial situation and connect you with lenders offering the best interest rates.

Mortgages for young professionals

Many lenders will offer mortgage loans to young professionals in the hope that they will quickly advance in their careers and have greater earning potential.

Many lenders offer excellent mortgage interest rates to young professionals in certain fields, including pilots and solicitors, veterinarians, dentists, and doctors.

Additional requirements may include a minimum annual income requirement or having been in the industry for at least five years. While young professionals might not have a better mortgage rate, they may offer a larger maximum mortgage amount.


Get started online

Mortgages for young couples

Many mortgage programs are available to assist young couples in acquiring their first property.

A mortgage you apply for as a young couple could allow you to get a bigger mortgage than one buyer can. A joint mortgage means that everyone on the mortgage is responsible for the monthly repayments.

Lenders can pursue joint tenants for the entire mortgage payment regardless of how much you have agreed to. While you may agree on your contribution, the lender will not be concerned.

Tenants in the common agreement must legally own different portions of a property.

Get in touch if you want advice about this type of arrangement.

Young couples can get joint mortgages, regardless of whether they are married, unmarried or in a civil relationship.

Young people can get a buy to let mortgage

Buy-to-let mortgages often have higher interest rates than residential mortgages. The minimum deposit requirement for young people is 25%.

A buy-to-let mortgage is seen as more risky than a traditional mortgage. Some lenders offer incentives to young buyers to help them get a buy-to-let mortgage.

Young buyers can choose to purchase the property in a joint account with their parents or get a guarantor mortgage.

Contact today for mortgage advice.


Get started online

Best mortgage lenders for young buyers

Young buyers need the help they need to move up the property ladder, and not waste their hard-earned cash to pay rent on a rental property.

Many high-street lenders, including Lloyd’s and Barclays, offer intergenerational mortgage programs for young people. In this age of FinTech innovation, however, there are increasing numbers of banks and joint ownership programs such as Opportunity that can help young people get on the market.

Talk to an expert advisor about getting on the property ladder

You may be overwhelmed by all the options and schemes available when trying to find the best mortgage deals for you as a young person.

It’s important to seek the advice of an expert on mortgages for young adults in order to secure a great mortgage deal that will be both convenient and secure over the long term.

Call today to enquire. Relax, and let us do the rest. There is no charge and absolutely no obligation to improve your credit rating.

We will discuss how much deposit you need, mortgage rates, credit history, guarantor mortgages and any other questions first-time buyers may have. The housing ladder is not easy to get on, but we are here to help.

Also, remember to mention any other debts you may have, whether a student loan or a mobile phone bill you have missed.

Contact us now for expert young person advice on getting a mortgage.


Get started online